Analysis: The addresses that created and hoarded a large amount of ETH through BitGo may belong to Bitmine

ChainCatcher news, according to Ember monitoring, addresses that previously created and hoarded a large amount of ETH through BitGo may belong to Bitmine. These addresses have accumulated 293,186 ETH through institutional business platforms such as FalconX, Galaxy Digital, and BitGo in the past 8 days, worth approximately $1.24 billion.

According to the analysis, the only institution that can match this trading volume may be Bitmine. Bitmine has announced that it increased its holdings by 317,000 ETH in the past week and currently holds 1.15 million ETH.